The chocolate market in India is expected to grow at a CAGR of 10.77%
till 2021.

The India chocolate market is growing with a CAGR of 16.13% from the
last seven years and is projected to grow at an even higher rate in the
future. The industry has a positive outlook due to exceptional growth in
the confectionery industry, rising per capita income and the gifting
culture in the country. The per capita consumption of chocolates has
almost doubled from 2005 to 2012. Over the years, changes in consumers'
preferences and lifestyle, eating habits, and their global exposure to
international brands have given a boost to the chocolate industry.

Milk chocolate accounts for the majority of the revenues in the
chocolate market but growing popularity of dark chocolate is anticipated
to decrease its revenues in the near future. The market share of premium
chocolate is anticipated to increase up to 45% in the overall chocolate
market, as the purchasing power and the disposable income of people in
the country rise. The report reveals that Cadbury, Nestle and Ferrero
are the leading players in the India chocolate market. Cadbury and
Nestle together account for the majority of the chocolate market but
Ferrero is expected to overtake Nestle in the next few years with the
increasing popularity of Ferrero Rocher and Kinder Joy.